Why isn't there a "verification layer" for startup metrics when raising money from VCs or angels? I will not promote
I've been thinking about this lately...when a founder pitches VCs or angels, they throw out metrics like ARR, churn, retention, active users, revenue, etc. Everyone knows founders can stretch the truth, define ARR however they want or flat-out lie. And then once a term sheet actually gets signed, everyone spends weeks dumping CSVs, PDF bank statements and payment gateway exports into a data room so analysts can verify it all from scratch. Why hasn't a third-party "verification layer" become a standard thing here? There are companies doing this but not at scale but as audit firms. Like, what if a startup plugged directly into a company's actual sources - Payment Gateway, bank statements (bank aggregator), QuickBooks etc, Mixpanel etc and generated a verified link/report showing real revenue, real churn and actual user growth? Basically giving investors assurance that the founder isn't making numbers up because it's pulled straight from the source. Curious what both sides think about this: For VCs and angels: Is verifying metrics actually a big problem for you? Would a tool like this save you a ton of diligence headaches (or help angels who don't have time for deep diligence or does stuff like custom contracts make automated verification useless anyway? For founders: Would you ever connect your live billing and analytics to a tool like this to build instant trust when fundraising or is sharing that a total non-starter until a term sheet is signed? Would you do it on your own or only if compelled by an investor?